| For immediate release | For More Information: Michelle S. Hickox, EVP & Chief Financial Officer 325.627.7155 |
FIRST FINANCIAL BANKSHARES ANNOUNCES SECOND QUARTER 2026 EARNINGS
ABILENE, Texas, July 16, 2026 - First Financial Bankshares, Inc. (the “Company,” “we,” “us” or “our”) (NASDAQ: FFIN) today reported earnings of $71.89 million for the second quarter of 2026 compared to earnings of $66.66 million for the same quarter a year ago and $71.54 million for the quarter ended March 31, 2026. Basic and diluted earnings per share were $0.50 for the second quarter of 2026 compared with $0.47 for the second quarter of 2025 and $0.50 for the linked quarter.
“Our second quarter results reflect solid year-over-year earnings growth, highlighted by expansion in our net interest margin and continued increases in fee income generated by wealth management and mortgage banking," said David Bailey, President and CEO. “As we look ahead, we remain focused on disciplined growth, prudent risk management and creating long term value for shareholders. We appreciate the dedication of our associates across Texas and their commitment to serving our customers and communities with excellence.”
Net interest income for the second quarter of 2026 was $136.91 million compared to $123.73 million for the second quarter of 2025 and $134.79 million for the first quarter of 2026. The net interest margin, on a tax-equivalent basis, was 3.90 percent for the second quarter of 2026 compared to 3.81 percent for the second quarter of 2025 and 3.86 percent for the first quarter of 2026. Net interest income and margin benefited from a decrease in deposit costs as well as improved securities yields over the past year. Average interest-earning assets were $14.46 billion for the second quarter of 2026 compared to $13.34 billion for the same quarter a year ago and $14.54 billion for the first quarter of 2026.
The Company recorded a provision for credit losses of $4.18 million for the second quarter of 2026 compared to a provision for credit losses of $3.13 million for the second quarter of 2025 and $2.29 million for the first quarter of 2026. At June 30, 2026, the allowance for credit losses totaled $112.43 million, or 1.35 percent of loans held-for-investment (“loans” hereafter), compared to $102.79 million, or 1.27 percent of loans, at June 30, 2025, and $107.92 million, or 1.30 percent of loans, at March 31, 2026. Additionally, the reserve for unfunded commitments totaled $6.21 million at June 30, 2026 compared to $9.91 million at June 30, 2025, and $5.94 million at March 31, 2026.
For the second quarter of 2026, the Company recorded net recoveries of $600 thousand compared to net charge-offs of $720 thousand for the second quarter of 2025 and net charge-offs of $356 thousand for the first quarter of 2026. Nonperforming assets as a percentage of loans and foreclosed assets totaled 0.80 percent at June 30, 2026, compared to 0.79 percent at June 30, 2025 and 0.66 percent at March 31, 2026. Classified loans totaled $283.10 million at June 30, 2026, compared to $257.07 million at June 30, 2025 and $289.76 million at March 31, 2026.
Noninterest income for the second quarter of 2026 was $35.84 million compared to $32.87 million for the second quarter of 2025 and $32.10 million for the linked quarter.
- Wealth Management fee income increased to $13.96 million for the second quarter of 2026 compared to $12.75 million for the second quarter of 2025 and $13.36 million for the linked quarter. The increase from prior year is driven by growth in assets under management with the increase over linked quarter related to improved mineral fee revenue due to recent higher oil prices. The market value of assets under management totaled $12.23 billion at June 30, 2026, compared to $11.46 billion at June 30, 2025 and $11.91 billion at March 31, 2026.
- Service charges on deposits increased to $6.26 million for the second quarter of 2026 compared with $6.13 million for the second quarter of 2025 and $6.08 million for the first quarter 2026, driven by increases in fees on deposit accounts for both periods and offset by a decrease in overdraft fees year over year.
- Mortgage income increased to $4.68 million for the second quarter of 2026 compared to $4.13 million for the second quarter of 2025 and $4.28 million for first quarter of 2026. Mortgage income continues to benefit from the restructuring of the secondary mortgage department, new mortgage lenders and centralization of mortgage operations this past year and an increase in the volume of mortgage loans originated.
- Other noninterest income increased to $5.02 million for the second quarter of 2026 compared to $3.74 million for the second quarter of 2025 and $2.54 million in the linked quarter. In the second quarter of 2026, non-interest income increased $1.17 million over the second quarter of 2025 and $1.68 million from the linked quarter reflecting the increase in the fair market value of the assets held in Company’s supplemental executive retirement plan. The plan holds marketable securities, including shares of Company stock. Deferred compensation related to these changes in value is included in salaries and employee benefits expense. Also, during the second quarter of 2026, the Company received life insurance proceeds of approximately $200 thousand for the death of a former employee.
Noninterest expense for the second quarter of 2026 totaled $81.11 million compared to $71.74 million for the second quarter of 2025 and $76.77 million in the linked quarter.
- Salary, commissions, and employee benefit costs increased to $49.66 million for the second quarter of 2026, compared to $42.58 million in the second quarter of 2025 and $45.98 million for the linked quarter. The increase for both periods is primarily resulting from annual merit-based and market-driven pay increases that were effective March 1st and profit sharing and incentive accruals, which are up due to year-over-year earnings growth. Mortgage incentives are also up for both periods due to higher loan volumes. Also, there was a change in deferred compensation expense of $1.17 million from the second quarter of the prior year and $1.68 million from the first quarter of 2026 due to the increase in the supplemental executive retirement plan deferred compensation liability as discussed above.
- Noninterest expenses, excluding salary related costs, increased $2.29 million for the second quarter of 2026 compared to the same period in 2025 and $660 thousand compared to the linked quarter, largely due to increases in software amortization and professional fees in both periods and offset by debit card expenses as compared to prior year.
The Company’s efficiency ratio was 45.94 percent for the second quarter of 2026 compared to 44.97 percent for the second quarter of 2025 and 44.98 percent for the first quarter of 2026.
As of June 30, 2026, consolidated total assets were $15.31 billion compared to $14.38 billion at June 30, 2025 and $15.39 billion at March 31, 2026. Loans totaled $8.35 billion at June 30, 2026, compared with loans of $8.07 billion at June 30, 2025 and $8.29 billion at March 31, 2026. During the second quarter of 2026, loans grew $61.81 million, or 2.99 percent annualized, when compared to March 31, 2026 balances. Loans have grown $188.66 million, or 4.66 percent annualized, year-to-date. Deposits and Repurchase Agreements totaled $13.17 billion at June 30, 2026, compared to $12.50 billion at June 30, 2025 and $13.31 billion at March 31, 2026. Deposits and Repurchase Agreement balances are down $234.85 million year-to-date primarily due to reduced balances of municipal deposits from year end. Deposits, excluding public funds, increased $149.57 million year-to-date.
Shareholders’ equity was $2.00 billion as of June 30, 2026, compared to $1.74 billion and $1.94 billion at June 30, 2025 and March 31, 2026, respectively. The unrealized loss on the securities portfolio, net of applicable tax, totaled $279.67 million at June 30, 2026, compared to unrealized losses of $373.46 million at June 30, 2025 and $290.06 million at March 31, 2026, due to changes in market interest rates during the respective periods.
About First Financial Bankshares, Inc.
Headquartered in Abilene, Texas, First Financial Bankshares, Inc. is a financial holding company that through its subsidiary, First Financial Bank, operates multiple banking regions with 79 locations in Texas, including Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Bryan, Burleson, College Station, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Franklin, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Lumberton, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The Company also operates First Financial Wealth Management, with nine locations and First Technology Services, Inc., a technology operating company.
The Company is listed on The Nasdaq Global Select Market under the trading symbol FFIN. For more information about First Financial, please visit our website at https://www.ffin.com.
Certain statements contained herein may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management, and may be, but not necessarily are, identified by such words as “expect,” “plan,” “anticipate,” “target,” “forecast,” “project,” and “goal.” Because such “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company’s expectations include competition from other financial institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; economic impact of oil and gas prices, changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. Other key risks are described in the Company’s reports filed with the Securities and Exchange Commission, which may be obtained under “Investor Relations-Documents and Filings” on the Company’s Website or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
In thousands, except share and per share data
| ASSETS | As of · 2026June 30, | As of · 2026Mar. 31, | As of · 2025Dec. 31, | As of · 2025Sept. 30, | As of · 2025June 30, |
|---|---|---|---|---|---|
| Cash and due from banks | $284,759 | $264,850 | $249,466 | $237,466 | 264,000 |
| Interest-bearing demand deposits in banks | 286,973 | 458,203 | 826,947 | 401,580 | 435,612 |
| Federal funds sold | 8,650 | 14,075 | 1,575 | 11,750 | 8,750 |
| Investment securities | 5,675,957 | 5,668,792 | 5,514,113 | 5,260,813 | 4,886,548 |
| Loans, held-for-investment | 8,346,931 | 8,285,120 | 8,158,276 | 8,243,625 | 8,074,944 |
| Allowance for credit losses | (112,433) | (107,918) | (105,536) | (105,958) | (102,792) |
| Net loans, held-for-investment | 8,234,498 | 8,177,202 | 8,052,740 | 8,137,667 | 7,972,152 |
| Loans, held-for-sale | 23,616 | 22,984 | 29,992 | 26,015 | 33,233 |
| Premises and equipment, net | 155,560 | 150,989 | 149,985 | 149,651 | 148,999 |
| Goodwill | 313,481 | 313,481 | 313,481 | 313,481 | 313,481 |
| Other intangible assets | 86 | 128 | 171 | 257 | 343 |
| Other assets | 322,857 | 316,941 | 308,006 | 302,848 | 313,723 |
| Total assets | $15,306,437 | $15,387,645 | $15,446,476 | $14,841,528 | 14,376,841 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
| Noninterest-bearing deposits | $3,478,755 | $3,385,878 | $3,401,057 | $3,446,262 | 3,439,059 |
| Interest-bearing deposits | 9,641,228 | 9,859,359 | 9,944,472 | 9,399,986 | 9,009,357 |
| Total deposits | 13,119,983 | 13,245,237 | 13,345,529 | 12,846,248 | 12,448,416 |
| Repurchase agreements | 53,656 | 67,946 | 62,956 | 50,646 | 48,026 |
| Borrowings | 21,829 | 22,306 | 21,680 | 21,956 | 22,153 |
| Trade date payable | - | - | - | - | 24,965 |
| Other liabilities | 114,082 | 108,305 | 98,994 | 92,410 | 95,929 |
| Shareholders' equity | 1,996,887 | 1,943,851 | 1,917,317 | 1,830,268 | 1,737,352 |
| Total liabilities and shareholders' equity | $15,306,437 | $15,387,645 | $15,446,476 | $14,841,528 | 14,376,841 |
| INCOME STATEMENTS | Quarter Ended · 2026June 30, | Quarter Ended · 2026Mar. 31, | Quarter Ended · 2025Dec. 31, | Quarter Ended · 2025Sept. 30, | Quarter Ended · 2025June 30, |
|---|---|---|---|---|---|
| Interest income | $185,960 | $182,945 | $182,869 | $179,692 | 172,810 |
| Interest expense | 49,046 | 48,154 | 51,501 | 52,691 | 49,080 |
| Net interest income | 136,914 | 134,791 | 131,368 | 127,001 | 123,730 |
| Provision for credit losses | 4,183 | 2,291 | (2,486) | 24,435 | 3,132 |
| Net interest income after provision for credit losses | 132,731 | 132,500 | 133,854 | 102,566 | 120,598 |
| Noninterest income | 35,844 | 32,096 | 33,349 | 34,264 | 32,873 |
| Noninterest expense | 81,106 | 76,768 | 77,650 | 73,666 | 71,735 |
| Net income before income taxes | 87,469 | 87,828 | 89,553 | 63,164 | 81,736 |
| Income tax expense | 15,575 | 16,285 | 16,239 | 10,897 | 15,078 |
| Net income | $71,894 | $71,543 | $73,314 | $52,267 | 66,658 |
| PER COMMON SHARE DATA | |||||
|---|---|---|---|---|---|
| Net income - basic | $0.50 | $0.50 | $0.51 | $0.37 | 0.47 |
| Net income - diluted | 0.50 | 0.50 | 0.51 | 0.36 | 0.47 |
| Cash dividends declared | 0.22 | 0.19 | 0.19 | 0.19 | 0.19 |
| Book value | 13.93 | 13.57 | 13.39 | 12.78 | 12.14 |
| Tangible book value | 11.75 | 11.38 | 11.20 | 10.59 | 9.95 |
| Market value | 34.60 | 29.45 | 29.87 | 33.65 | 35.98 |
| Shares outstanding - end of period | 143,319,824 | 143,279,030 | 143,213,102 | 143,188,051 | 143,077,619 |
| Average outstanding shares - basic | 143,280,452 | 143,210,755 | 143,180,215 | 143,105,224 | 143,023,544 |
| Average outstanding shares - diluted | 143,698,421 | 143,608,079 | 143,542,801 | 143,474,169 | 143,378,505 |
| PERFORMANCE RATIOS | |||||
|---|---|---|---|---|---|
| Return on average assets | 1.89% | 1.89% | 1.94% | 1.44% | 1.89% |
| Return on average equity | 14.70 | 14.83 | 15.62 | 11.85 | 15.82 |
| Return on average tangible equity | 17.49 | 17.66 | 18.78 | 14.44 | 19.43 |
| Net interest margin (tax equivalent) | 3.90 | 3.86 | 3.81 | 3.80 | 3.81 |
| Efficiency ratio | 45.94 | 44.98 | 46.10 | 44.74 | 44.97 |
CONSOLIDATED FINANCIAL SUMMARY (UNAUDITED)
In thousands, except share and per share data
| INCOME STATEMENTS | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|
| Interest income | $368,905 | 339,920 |
| Interest expense | 97,200 | 97,401 |
| Net interest income | 271,705 | 242,519 |
| Provision for credit losses | 6,474 | 6,660 |
| Net interest income after provisions for credit losses | 265,231 | 235,859 |
| Noninterest income | 67,940 | 63,103 |
| Noninterest expense | 157,874 | 142,070 |
| Net income before income taxes | 175,297 | 156,892 |
| Income tax expense | 31,860 | 28,888 |
| Net income | $143,437 | 128,004 |
| PER COMMON SHARE DATA | ||
| Net income - basic | $1.00 | 0.90 |
| Net income - diluted | 1.00 | 0.89 |
| Cash dividends declared | 0.41 | 0.37 |
| Book value | 13.93 | 12.14 |
| Tangible book value | 11.75 | 9.95 |
| Market value | $34.60 | 35.98 |
| Shares outstanding - end of period | 143,319,824 | 143,077,619 |
| Average outstanding shares - basic | 143,245,796 | 142,986,734 |
| Average outstanding shares - diluted | 143,662,250 | 143,378,720 |
| PERFORMANCE RATIOS | ||
|---|---|---|
| Return on average assets | 1.89% | 1.83% |
| Return on average equity | 14.76 | 15.48 |
| Return on average tangible equity | 17.57 | 19.07 |
| Net interest margin (tax equivalent) | 3.88 | 3.78 |
| Efficiency ratio | 45.47 | 45.65 |
SELECTED FINANCIAL DATA (UNAUDITED)
In thousands
| ALLOWANCE FOR LOAN LOSSES | Quarter Ended · 2026June 30, | Quarter Ended · 2026Mar. 31, | Quarter Ended · 2025Dec. 31, | Quarter Ended · 2025Sept. 30, | Quarter Ended · 2025June 30, |
|---|---|---|---|---|---|
| Balance at beginning of period | $107,918 | $105,536 | $105,958 | $102,792 | 101,080 |
| Loans charged-off | (961) | (1,174) | (3,387) | (22,612) | (1,189) |
| Loan recoveries | 1,561 | 818 | 2,996 | 272 | 469 |
| Net recoveries (charge-offs) | 600 | (356) | (391) | (22,340) | (720) |
| Provision for loan losses | 3,915 | 2,738 | (31) | 25,506 | 2,432 |
| Balance at end of period | $112,433 | $107,918 | $105,536 | $105,958 | 102,792 |
| ALLOWANCE FOR UNFUNDED COMMITMENTS | |||||
|---|---|---|---|---|---|
| Balance at beginning of period | $5,940 | $6,387 | $8,842 | $9,914 | 9,214 |
| Provision for unfunded commitments | 268 | (447) | (2,455) | (1,072) | 700 |
| Balance at end of period | $6,208 | $5,940 | $6,387 | $8,842 | 9,914 |
| Allowance for loan losses / | |||||
| period-end loans held-for-investment | 1.35% | 1.30% | 1.29% | 1.29% | 1.27% |
| Allowance for loan losses / | |||||
| nonperforming loans | 174.94 | 206.16 | 188.41 | 187.39 | 162.60 |
| Net charge-offs (recoveries) / average total loans | |||||
| (annualized) | (0.03) | 0.02 | 0.02 | 1.07 | 0.04 |
| COMPOSITION OF LOANS HELD-FOR-INVESTMENT | As of · 2026June 30, | As of · 2026Mar. 31, | As of · 2025Dec. 31, | As of · 2025Sept. 30, | As of · 2025June 30, |
|---|---|---|---|---|---|
| Commercial: | |||||
| C&I | $1,087,656 | $1,149,931 | $1,116,461 | $1,174,770 | 1,202,151 |
| Municipal | 419,070 | 384,473 | 342,501 | 347,559 | 306,140 |
| Total Commercial | 1,506,726 | 1,534,404 | 1,458,962 | 1,522,329 | 1,508,291 |
| Agricultural | 81,786 | 77,583 | 95,776 | 88,820 | 86,133 |
| Real Estate: | |||||
| Construction & Development | 1,191,082 | 1,169,037 | 1,157,865 | 1,214,649 | 1,172,834 |
| Farm | 344,483 | 329,151 | 327,625 | 322,710 | 302,969 |
| Non-Owner Occupied CRE | 831,929 | 825,771 | 832,816 | 802,675 | 746,341 |
| Owner Occupied CRE | 1,144,093 | 1,132,114 | 1,120,608 | 1,119,425 | 1,124,610 |
| Residential | 2,322,000 | 2,322,097 | 2,285,830 | 2,308,708 | 2,286,220 |
| Total Real Estate | 5,833,587 | 5,778,170 | 5,724,744 | 5,768,167 | 5,632,974 |
| Consumer: | |||||
| Auto | 776,433 | 751,283 | 732,351 | 718,501 | 698,897 |
| Non-Auto | 148,399 | 143,680 | 146,443 | 145,808 | 148,649 |
| Total Consumer | 924,832 | 894,963 | 878,794 | 864,309 | 847,546 |
| Total loans held-for-investment | $8,346,931 | $8,285,120 | $8,158,276 | $8,243,625 | 8,074,944 |
| SUMMARY OF LOAN CLASSIFICATION | |||||
|---|---|---|---|---|---|
| Special Mention | $48,486 | $66,864 | $66,058 | $76,647 | 62,774 |
| Substandard | 234,618 | 222,895 | 189,548 | 176,311 | 194,291 |
| Total classified loans | $283,104 | $289,759 | $255,606 | $252,958 | 257,065 |
| NONPERFORMING ASSETS | |||||
|---|---|---|---|---|---|
| Nonaccrual loans | $63,310 | $52,129 | $55,121 | $56,394 | 63,142 |
| Accruing loans 90 days past due | 958 | 218 | 892 | 151 | 77 |
| Total nonperforming loans | 64,268 | 52,347 | 56,013 | 56,545 | 63,219 |
| Foreclosed assets | 2,770 | 1,962 | 479 | 1,997 | 489 |
| Total nonperforming assets | $67,038 | $54,309 | $56,492 | $58,542 | 63,708 |
| As a % of loans held-for-investment and foreclosed assets | 0.80% | 0.66% | 0.69% | 0.71% | 0.79% |
| As a % of end of period total assets | 0.44 | 0.35 | 0.37 | 0.39 | 0.44 |
SELECTED FINANCIAL DATA (UNAUDITED)
In thousands
| CAPITAL RATIOS | Quarter Ended · 2026June 30, | Quarter Ended · 2026Mar. 31, | Quarter Ended · 2025Dec. 31, | Quarter Ended · 2025Sept. 30, | Quarter Ended · 2025June 30, |
|---|---|---|---|---|---|
| Common equity Tier 1 capital ratio | 20.40% | 20.23% | 19.99% | 19.10% | 19.16% |
| Tier 1 capital ratio | 20.40 | 20.23 | 19.99 | 19.10 | 19.16 |
| Total capital ratio | 21.62 | 21.42 | 21.17 | 20.29 | 20.35 |
| Tier 1 leverage ratio | 12.88 | 12.58 | 12.55 | 12.34 | 12.61 |
| Tangible common equity ratio | 11.23 | 10.81 | 10.60 | 10.44 | 10.12 |
| Equity/Assets ratio | 13.05 | 12.63 | 12.41 | 12.33 | 12.08 |
| NONINTEREST INCOME | Quarter Ended · 2026June 30, | Quarter Ended · 2026Mar. 31, | Quarter Ended · 2025Dec. 31, | Quarter Ended · 2025Sept. 30, | Quarter Ended · 2025June 30, |
|---|---|---|---|---|---|
| Wealth Management fees | $13,960 | $13,363 | $13,512 | $12,950 | 12,746 |
| Service charges on deposits | 6,263 | 6,077 | 6,140 | 6,447 | 6,126 |
| Debit card fees | 5,584 | 5,245 | 5,791 | 5,333 | 5,218 |
| Credit card fees | 734 | 651 | 678 | 699 | 707 |
| Gain on sale and fees on mortgage loans | 4,679 | 4,277 | 4,216 | 4,375 | 4,126 |
| Net gain (loss) on sale of foreclosed assets | (19) | (56) | (12) | (122) | 200 |
| Net gain (loss) on sale of assets | (374) | - | - | - | 6 |
| Other noninterest income | 5,017 | 2,539 | 3,024 | 4,582 | 3,744 |
| Total noninterest income | $35,844 | $32,096 | $33,349 | $34,264 | 32,873 |
| NONINTEREST EXPENSE | |||||
|---|---|---|---|---|---|
| Salaries, commissions and employee benefits, excluding profit sharing | $46,216 | $42,959 | $42,409 | $40,681 | 39,834 |
| Profit sharing expense | 3,444 | 3,023 | 4,819 | 1,924 | 2,741 |
| Net occupancy expense | 3,728 | 3,630 | 3,458 | 3,545 | 3,600 |
| Equipment expense | 2,169 | 2,158 | 2,128 | 2,395 | 2,478 |
| FDIC insurance premiums | 1,767 | 1,560 | 1,695 | 1,635 | 1,585 |
| Debit card expense | 3,043 | 3,108 | 3,265 | 3,512 | 3,308 |
| Legal, tax and professional fees | 4,159 | 3,834 | 3,079 | 3,332 | 3,143 |
| Audit fees | 441 | 455 | 531 | 536 | 463 |
| Printing, stationery and supplies | 292 | 623 | 528 | 456 | 473 |
| Amortization of intangible assets | 43 | 43 | 86 | 86 | 86 |
| Advertising, meals and public relations | 1,849 | 1,701 | 1,923 | 1,714 | 1,653 |
| Operational and other losses | 801 | 1,000 | 1,583 | 1,957 | 720 |
| Software amortization and expense | 5,053 | 4,594 | 4,456 | 4,280 | 4,020 |
| Other noninterest expense | 8,101 | 8,080 | 7,690 | 7,613 | 7,631 |
| Total noninterest expense | $81,106 | $76,768 | $77,650 | $73,666 | 71,735 |
| TAX EQUIVALENT YIELD ADJUSTMENT | $3,799 | $3,791 | $3,709 | $3,406 | 2,926 |
SELECTED FINANCIAL DATA (UNAUDITED)
In thousands
| NONINTEREST INCOME | Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 |
|---|---|---|
| Wealth Management fees | $27,323 | 25,399 |
| Service charges on deposits | 12,340 | 12,302 |
| Debit card fees | 10,829 | 10,185 |
| Credit card fees | 1,385 | 1,284 |
| Gain on sale and fees on mortgage loans | 8,955 | 6,958 |
| Net gain (loss) on sale of foreclosed assets | (75) | 165 |
| Net gain (loss) on sale of assets | (374) | 6 |
| Other noninterest income | 7,557 | 6,804 |
| Total noninterest income | $67,940 | 63,103 |
| NONINTEREST EXPENSE | ||
|---|---|---|
| Salaries, commissions and employee benefits, excluding profit sharing | $89,175 | 78,991 |
| Profit sharing expense | 6,467 | 5,726 |
| Net occupancy expense | 7,359 | 7,320 |
| Equipment expense | 4,328 | 4,799 |
| FDIC insurance premiums | 3,326 | 3,160 |
| Debit card expense | 6,151 | 6,680 |
| Legal, tax and professional fees | 7,993 | 6,209 |
| Audit fees | 896 | 914 |
| Printing, stationery and supplies | 915 | 955 |
| Amortization of intangible assets | 86 | 181 |
| Advertising, meals and public relations | 3,550 | 3,332 |
| Operational and other losses | 1,801 | 1,260 |
| Software amortization and expense | 9,646 | 7,753 |
| Other noninterest expense | 16,181 | 14,790 |
| Total noninterest expense | $157,874 | 142,070 |
| TAX EQUIVALENT YIELD ADJUSTMENT | $7,590 | 5,626 |
SELECTED FINANCIAL DATA (UNAUDITED)
In thousands
| Line item | Three Months Ended · June 30, 2026 · AverageBalance | Three Months Ended · June 30, 2026 · Tax EquivalentInterest | Three Months Ended · June 30, 2026 · Yield/ Rate | Three Months Ended · Mar. 31, 2026 · AverageBalance | Three Months Ended · Mar. 31, 2026 · Tax EquivalentInterest | Three Months Ended · Mar. 31, 2026 · Yield/ Rate |
|---|---|---|---|---|---|---|
| Interest-earning assets: | ||||||
| Federal funds sold | $4,642 | 43 | $3.72% | $4,565 | 40 | 3.55% |
| Interest-bearing demand deposits in nonaffiliated banks | 333,359 | 3,074 | 3.70 | 461,579 | 4,209 | 3.70 |
| Taxable securities | 4,091,117 | 33,666 | 3.29 | 4,076,690 | 32,283 | 3.17 |
| Tax-exempt securities | 1,709,709 | 14,134 | 3.31 | 1,726,765 | 14,184 | 3.29 |
| Loans | 8,317,815 | 138,841 | 6.70 | 8,273,995 | 136,020 | 6.67 |
| Total interest-earning assets | $14,456,642 | 189,758 | 5.26% | $14,543,594 | 186,736 | 5.21% |
| Noninterest-earning assets | 833,268 | 821,635 | ||||
| Total assets | $15,289,910 | $15,365,229 | ||||
| Interest-bearing liabilities: | ||||||
| Deposits | $9,676,860 | 48,697 | $2.02% | $9,824,362 | 47,851 | 1.98% |
| Repurchase Agreements | 60,403 | 223 | 1.48 | 62,849 | 229 | 1.48 |
| Borrowings | 28,459 | 125 | 1.76 | 22,155 | 74 | 1.35 |
| Total interest-bearing liabilities | $9,765,722 | 49,045 | 2.01% | $9,909,366 | 48,154 | 1.97% |
| Noninterest-bearing deposits | 3,445,033 | 3,401,092 | ||||
| Other noninterest-bearing liabilities | 116,944 | 97,986 | ||||
| Shareholders' equity | 1,962,211 | 1,956,785 | ||||
| Total liabilities and shareholders' equity | $15,289,910 | $15,365,229 | ||||
| Net interest income and margin (tax equivalent) | $140,713 | 3.90% | $138,582 | 3.86% | ||
| Three Months Ended | Three Months Ended | |||||
| Dec. 31, 2025 | Sept. 30, 2025 | |||||
| Average | Tax Equivalent | Yield / | Average | Tax Equivalent | Yield / | |
| Balance | Interest | Rate | Balance | Interest | Rate | |
| Interest-earning assets: | ||||||
| Federal funds sold | $6,565 | 62 | $3.75% | $10,711 | 130 | 4.82% |
| Interest-bearing demand deposits in nonaffiliated banks | 434,445 | 4,284 | 3.91 | 216,739 | 2,387 | 4.37 |
| Taxable securities | 3,683,108 | 29,231 | 3.17 | 3,560,347 | 26,539 | 2.98 |
| Tax-exempt securities | 1,712,261 | 14,144 | 3.30 | 1,564,767 | 12,906 | 3.30 |
| Loans | 8,241,265 | 138,857 | 6.68 | 8,249,113 | 141,136 | 6.79 |
| Total interest-earning assets | $14,077,644 | 186,578 | 5.26% | $13,601,677 | 183,098 | 5.34% |
| Noninterest-earning assets | 893,739 | 826,660 | ||||
| Total assets | $14,971,383 | $14,428,337 | ||||
| Interest-bearing liabilities: | ||||||
| Deposits | $9,476,716 | 51,207 | $2.14% | $9,051,463 | 52,010 | 2.28% |
| Repurchase Agreements | 56,573 | 219 | 1.54 | 50,051 | 210 | 1.66 |
| Borrowings | 22,113 | 75 | 1.35 | 56,198 | 471 | 3.33 |
| Total interest-bearing liabilities | $9,555,402 | 51,501 | 2.14% | $9,157,712 | 52,691 | 2.28% |
| Noninterest-bearing deposits | 3,454,171 | 3,419,378 | ||||
| Other noninterest-bearing liabilities | 99,623 | 101,268 | ||||
| Shareholders' equity | 1,862,187 | 1,749,979 | ||||
| Total liabilities and shareholders' equity | $14,971,383 | $14,428,337 | ||||
| Net interest income and margin (tax equivalent) | $135,077 | 3.81% | $130,407 | 3.80% |
FIRST FINANCIAL BANKSHARES, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(In thousands)
June 30, 2025
| Line item | Three Months Ended · AverageBalance | Three Months Ended · Tax EquivalentInterest | Three Months Ended · Yield/ Rate |
|---|---|---|---|
| Interest-earning assets: | |||
| Federal funds sold | $9,397 | 113 | 4.84% |
| Interest-bearing demand deposits in nonaffiliated banks | 379,364 | 4,191 | 4.43 |
| Taxable securities | 3,470,028 | 25,242 | 2.91 |
| Tax-exempt securities | 1,433,498 | 10,811 | 3.02 |
| Loans | 8,045,340 | 135,378 | 6.75 |
| Total interest-earning assets | $13,337,627 | 175,735 | 5.28% |
| Noninterest-earning assets | 826,635 | ||
| Total assets | $14,164,262 | ||
| Interest-bearing liabilities: | |||
| Deposits | $8,923,737 | 48,730 | 2.19% |
| Repurchase Agreements | 54,482 | 221 | 1.63 |
| Borrowings | 26,557 | 128 | 1.93 |
| Total interest-bearing liabilities | $9,004,776 | 49,079 | 2.19% |
| Noninterest-bearing deposits | 3,383,851 | ||
| Other noninterest-bearing liabilities | 85,745 | ||
| Shareholders' equity | 1,689,890 | ||
| Total liabilities and shareholders' equity | $14,164,262 | ||
| Net interest income and margin (tax equivalent) | $126,656 | 3.81% |
| Line item | Six Months Ended · June 30, 2026 · AverageBalance | Six Months Ended · June 30, 2026 · Tax EquivalentInterest | Six Months Ended · June 30, 2026 · Yield/ Rate | Six Months Ended · June 30, 2025 · AverageBalance | Six Months Ended · June 30, 2025 · Tax EquivalentInterest | Six Months Ended · June 30, 2025 · Yield/ Rate |
|---|---|---|---|---|---|---|
| Interest-earning assets: | ||||||
| Federal funds sold | $4,604 | 83 | $3.64% | $8,501 | 203 | 4.82% |
| Interest-bearing deposits in nonaffiliated banks | 397,115 | 7,283 | 3.70 | 332,960 | 7,365 | 4.46 |
| Taxable securities | 4,083,944 | 65,949 | 3.23 | 3,487,932 | 50,277 | 2.88 |
| Tax exempt securities | 1,718,190 | 28,319 | 3.30 | 1,420,541 | 20,723 | 2.92 |
| Loans | 8,296,026 | 274,861 | 6.68 | 7,999,398 | 266,977 | 6.73 |
| Total interest-earning assets | $14,499,879 | 376,495 | 5.24% | $13,249,332 | 345,545 | 5.26% |
| Noninterest-earning assets | 827,502 | 828,336 | ||||
| Total assets | $15,327,381 | $14,077,668 | ||||
| Interest-bearing liabilities: | ||||||
| Deposits | $9,750,203 | 96,548 | $2.00% | $8,903,004 | 96,280 | 2.18% |
| Repurchase Agreements | 61,619 | 452 | 1.48 | 54,203 | 430 | 1.60 |
| Borrowings | 25,324 | 200 | 1.59 | 50,426 | 690 | 2.76 |
| Total interest-bearing liabilities | $9,837,146 | 97,200 | 1.99% | $9,007,633 | 97,400 | 2.18% |
| Noninterest-bearing deposits | 3,423,184 | 3,325,170 | ||||
| Other noninterest-bearing liabilities | 107,518 | 77,030 | ||||
| Shareholders' equity | 1,959,533 | 1,667,835 | ||||
| Total liabilities and shareholders' equity | $15,327,381 | $14,077,668 | ||||
| Net interest income and margin (tax equivalent) | $279,295 | 3.88% | $248,145 | 3.78% |